Pricing Direct Adds Swaptions

The firm rolled out the service last month, and a handful of buy-side firms including mutual funds and insurance companies are already using the evaluated swaptions prices to value swaptions within their portfolios, according to Umesh Bhide, senior managing director for Pricing Direct at Bear Stearns.

"At first, we are offering the swaptions valuation service in euro and US dollars, and as demand increases, we will expand it to other currencies," Bhide says. "The purpose is to provide a fulle

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